At issue in Tebow trade is 5M advance on 2012, 2013 and 2014 salaries paid by Denver. Denver wants $$ back from NYJ.
In short, the Broncos want their money back.
Schefter tweeted multiple times about the possible nullification:
Filed to ESPN (1): Denver and Jets have encountered hangup in language in Tim Tebow's contract that could nullify trade.
(2) If the Tebow trade to Jets falls apart, St. Louis could wind up getting back into play. Sides sorting through details.
The NFL reporter later tweeted that the Jacksonville Jaguars could be interested in snagging the quarterback.
More craziness filed to ESPN: Jaguars are back in the mix, seeing if they now can pull off a trade with Denver for Tim Tebow.
The Jaguars would love to have Tebow aboard, as they would easily fill thousands of more seats with the unconventional quarterback on their roster.
Quarterback Blaine Gabbert struggled immensely in 2011 but deserves a chance to redeem himself to the fans. However, Tebow would immediately sell tickets for the Jags. If Jacksonville could acquire the quarterback, they would have a sold out stadium week in and week out.
If you go back to Schefter's second tweet, he mentions that the St. Louis Rams could be back in the Tebow hunt. Despite having 2010 first overall pick Sam Bradford aboard, Tebow's presence would give a much-needed spark to the offense.
Should the trade nullify, the Rams and Jaguars are sure to be after the unique quarterback.